Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1887-12-12
OUR BRITISH COUSINS.
THEY "ENTHUSE" OVER The yAIUE
OF ONE OF OUR MINES.

The Alturas q. N. Co., of Rocky Bar,
About to Begin Paying Regular Div.
idends-The Monthly Profits $4,000,
with Over One Million of Profit in
Sight.
An "ordinary general meeting" of
the Alturas Gold Company, Limited,
was held in London, England, the
10Th of November last, when the
Board of Directors presented report
of operations for the past IS months.
During that time 100000 has been
paid, a new 5O-stamp mill erected,
and the property opened to such an
extent as to demonstrate the necessity
for another so stamp mill. All this
was paid for by the mine. The profits
of the company have heretofore varied
from month to month; but from this
time on the managers at the mines
and mills-Messrs. Anthony, Leech
and Patterson-expected to realize
profit of $4,000 per month. The
Directors therefore felt safe in prom
ising that during January, 1883,
dividend would be declared, and that
Others of one shilling per share would
follow every succeeding three months.
The mill which would doubtless be
erected next spring would not inter
fere with the payment of dividends, as
it could be paid for by the sale of
portion of the $4,000 shares kept in
the treasury as working capital.
But it might not be necessary to sell
share for this purpose, as the grade
Of the ore might improve, iii the mean,
time, to such an extent as to pay div
idends and pay for the mill besides.
Mr.. James, one of the heaviest
shareholders, after discussing the re-
port, said that he thought the Alturas
shareholders were more favorably sit
uated than the Carlisle with a capital
of 100000, because they were ex
ceeding the Carlisle in profits. This
company was now making about
$1,000 a month profit, and they would
be able to greatly exceed that with
additional heads of stamps, while the
ratio Of expenses would proportion
ately decrease.
Mr.. Brotherton, another heavy
shareholder, said the property they
were now working was not the oripi-
nal property; that they had now a
property which was eight times better
than it had ever been represented to
be. He considered that the share
holders of this company were greatly
indebted to Captain Anthony. They
were indebted to him for having a
property which was yielding hand
some returns of gold. They were
much better situated than I'll Callao,
whose gold cost them G3f ton to
mine, or more than so per cent. of
the value of their gold. The Empire
cost more than so per cent, while the
Montana was equal to theirs, or about
33 per cent. He agreed that they
had one Of the best gold mines on the
face of the earth, and congratulated
the shareholders on their position to
day.
Captain Bickford Anthony state d
that the company owned between l5O
AMI 100 acres Of patented ground
He had measured, sampled, and care
fully estimated the reserves. He
found that in the claims they had
100000 tons of ore that were "abso
lutely certain" and would yield from
one to eight ounces per ton, but which
he believed, might average three
ounces throughout. After going int
details of operations on the variou.
levels, Captain Anthony said that, de
Quoting cost of exploitation, the com
pany had already reserves in sigh
worth sl,3O0,OO0, net, land not
penny off,"
The meeting, which was enthusias
tic throughout, adjourned with cheers